New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-15
THE RIcGEsT DAY IN THE WHEAT PIT.
TRANSACTIONS IN OVER THIRTY MILLION BUSHELS
NO FAILURES.

TRANSACTIONS IN OVER THIRTY MILLION BUSHELS
NO FAILURES.
Thu wheat nit at the Produce Exchange yesterday
was scene OF intense excitement that outrivaed tne
hurly -burly OF the coffee brokers on Monday INC
market for options proved to be the most aetFe o',
witnessed In the history of the Exchange, the toli
transactions exceeding the unprecedented fecoiu VI
30. 600 900 bushels. Weakness was eApeo'eu ~"
the semi-panioky condition OF the chicago maiAo'
since Friday and when reports came OF nea.y
An, impulse became general The offerings OF the yell
ing excited brokers numerous that prices were
crowded down over l cent without any oPPoi'un
itv for many transactions TO be made buyers were 81
few that the surgng crowd OF sellers nad inc
almo, lett to themselves When the first wild rush 10
sell was over the market steadied Itself somewhat Out
the wheat pit remained the centre OF an thrng
of brokers up to the close OF business. Ing .,'
matches and quotations from Chicago that poured 'u
were eager, sought and they told only one 'ae-'
of continued depresson-and later in the Gay Ine
announcement of the suspension OF the chicago mouse
of Resented Co., the pTnci pal brokers OF tne I'm
csgo bull clique suggested the possioi'y vi '"'''0'
here ..u,.o. ha;na
The day. however, passed without any failures oeihg
announced The eno nous dealings proven W 20 ioa
the most part the switching" OF nearby opt,on
contracts into the later months. This was gehcrahy
taken to indicate the ability OF New-forK opersio
who wee hurt by the break IN June ana July oPt'Uhs
10 protect themselves with contracts TOR later deiV
epies f;ratifcation was also expressed that there
were no failures in the face OF the collapse OF INC
the New-York spectators were not generaiy ueo w
on the bull SIDE and that therefore the storm tDe
West might pass Manhattan Island without
dong serions damage The decline In prices was only
about halt of the in the Chicago market Inc pig
break in June there not an index oil the actua
losses in the market tor the price OF that mon,h mas
for some time been "pegged at a figure decidedly
above the price of the July options ana representeoo
only nominal quotation. The declines mere were o
cents for Jupe to 922 and 4s cents for July 70
ssh cents but there later recovery Tor OF
81 cent leaving a net loss of ss cents per busheL
Aucust tell over l cent to SO cents. The later
optiops scored final losses of fractions OF cent;
THE largest sellers yesterday were Logan, cow "
Co Williams Black CO.. j. h. Herrck " 90,
Milmine. Bodmsn g. Co., Henry Allen Il Co, ana
q Charley Rouse The principal buyers were henry
(,lews & Co. Samuel Sandy, Sawyer, Wallace 20,
Jones' Mccormick and Kenneth The dealings In July
options exce.d II 5000 bushels, In August they
ran M TO g. 600, 900 bushels and in September ana
December about 5000. 900 bushels for each month.
the rem sinder that made up the 30 OOOoOc busne
record being scattered through the other months ne
markets 10 the other cereals we're only moderately
affected by the drop wheat but their prices suuered
Losses of material fractions go
The brokers dispersed last night with nervous
feeling Of dread regarding what to day would brlng
forth There wild rumors through the DAY OF
difficulties OF Western banks but dispatches contra
dcted these stories emphatcaly 1t was pretty gen
eral IMPRESSION that the situation here was stronger
than at the West and that but the smallest con-
Germs or traders could possibly go under Exporters
reaped advantage of the fall in prices by large pur
chases and the total engagements for TWO Gays hae
nearly reached 900. 900 bushels.